Q2 2022 Earnings Forecast for LendingClub Co. (NYSE:LC) Issued By Seaport Res Ptn

LendingClub Co. (NYSE:LC – Get Rating) – Seaport Res Ptn raised their Q2 2022 earnings per share estimates for LendingClub in a research note issued on Thursday, April 28th. Seaport Res Ptn analyst W. Ryan now expects that the credit services provider will post earnings per share of $0.40 for the quarter, up from their prior estimate of $0.33. Seaport Res Ptn has a “Buy” rating on the stock. Seaport Res Ptn also issued estimates for LendingClub’s FY2022 earnings at $1.55 EPS.

Several other analysts also recently commented on LC. StockNews.com assumed coverage on LendingClub in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Credit Suisse Group reduced their price objective on LendingClub from $34.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, January 27th. Janney Montgomery Scott raised LendingClub from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Wednesday, January 12th. Wedbush reduced their price target on shares of LendingClub from $35.00 to $30.00 in a research report on Monday, February 7th. Finally, Zacks Investment Research upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a report on Tuesday, April 12th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $38.83.

LC opened at $15.25 on Monday. The firm has a fifty day moving average of $15.43. LendingClub has a 1-year low of $11.97 and a 1-year high of $49.21. The company has a market capitalization of $1.56 billion, a P/E ratio of 15.10 and a beta of 2.07. The company has a current ratio of 1.29, a quick ratio of 1.09 and a debt-to-equity ratio of 0.27.

LendingClub (NYSE:LC – Get Rating) last released its earnings results on Wednesday, April 27th. The credit services provider reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.13. The company had revenue of $289.50 million for the quarter, compared to the consensus estimate of $262.43 million. LendingClub had a net margin of 10.63% and a return on equity of 26.78%. LendingClub’s quarterly revenue was up 173.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.49) EPS.

In other LendingClub news, SVP Fergal Stack sold 6,127 shares of LendingClub stock in a transaction on Monday, February 28th. The shares were sold at an average price of $18.58, for a total transaction of $113,839.66. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Annie Armstrong sold 3,317 shares of LendingClub stock in a transaction on Monday, March 7th. The stock was sold at an average price of $15.47, for a total transaction of $51,313.99. The disclosure for this sale can be found here. Insiders have sold a total of 26,739 shares of company stock worth $477,345 over the last ninety days. Insiders own 4.48% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of LendingClub during the 1st quarter worth $143,000. Emerald Mutual Fund Advisers Trust raised its stake in LendingClub by 34.9% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 350,792 shares of the credit services provider’s stock valued at $5,535,000 after acquiring an additional 90,700 shares during the period. Yorktown Management & Research Co Inc raised its stake in LendingClub by 27.3% in the 1st quarter. Yorktown Management & Research Co Inc now owns 11,748 shares of the credit services provider’s stock valued at $185,000 after acquiring an additional 2,518 shares during the period. Daiwa Securities Group Inc. raised its stake in LendingClub by 45.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 4,232 shares of the credit services provider’s stock valued at $67,000 after acquiring an additional 1,329 shares during the period. Finally, Hillsdale Investment Management Inc. raised its stake in LendingClub by 3.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 233,500 shares of the credit services provider’s stock valued at $3,684,000 after acquiring an additional 8,000 shares during the period. Institutional investors own 77.36% of the company’s stock.

About LendingClub (Get Rating)

LendingClub Corporation, operates as a bank holding company for LendingClub Bank, National Association that provides range of financial products and services through a technology-driven platform in the United States. The company provides commercial and industrial, commercial real estate, small business, and equipment loans, as well as leases equipment; and unsecured personal and auto, patient finance, and education finance loans.

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